Featured In

“What is the burning issue that prompted you to call me?” That’s the first question I ask people who reach out for financial guidance. Often, they want to know, “How soon can I retire?”

Society would have us believe that as we age into our 60s, we should be at or close to retirement, that our greatest decisions should be whether we schedule a golf game or get together with friends for lunch. Nothing could be further from the truth. Instead of slowing down as we age, many of us are finding this period of time, when our children are adults and out of the house, as an opportunity for self-exploration and reinvention.

You’ve been planning for this for years: the ability to retire. You’ve saved diligently, discussed the transition with your family, and developed a succession plan at work. You’ve even celebrated the upcoming milestone by sharing a champagne toast with friends! And then a bear market hits and appears to upset all your plans. The retirement paycheck that you’ve carefully arranged for may be in question. After ten years of a bull market, the stock market volatility is making you feel anxious and unsettled. Your illusion of control is shattered.

A: If you lost your health insurance, be sure to replace it, says Laura Rotter, a financial planner in Harrison, N.Y. If you have insurance through your job, a job loss generally qualifies you for special enrollment under the Affordable Care Act. Other options may include electing Cobra insurance or being added to your spouse’s employer-based health insurance. Make sure you both have life insurance, Ms. Rotter says. If the breadwinner isn’t already signed up for long-term disability insurance, now is the time to do so, says Lorenzo Sanchez, a financial planner in San Diego. “Disability insurance is a big safety net that everyone should have in place,” he says.

On this podcast, David Shriner-Cahn and I discuss: Self-exploration as a way to start working on your own [1:33] Unexpected opportunities show up to an open heart and mind [4:39] The degree of intention once your business starts growing [10:01] A blessing that comes after a long frustrating career [12:11] The trap of becoming a victim of the worst boss in the world [13:54] The power of like-mined people to help you clarify your mission and fulfill it [15:43] The financial questions that help life go [17:17]

Susan and Bob came to my office to discuss their financial situation. They proudly announced, “We have no debt; we even repaid our mortgage.” Like many clients, Susan and Bob had bought into the belief that no debt is good debt. However, unlike credit card debt or other consumer debt, your home mortgage is actually good debt that can be used to your advantage.